Azerbaijan’s Azeri Light crude falls below $81 per barrel

The price of Azerbaijan’s Azeri Light crude oil on an FOB basis at Turkey’s Ceyhan port fell by $1.62, or 1.97%, to $80.60 per barrel, Report news agency said on Friday.

The price of Azeri Light on a CIF basis at Italy’s Augusta port declined by $1.65, or 1.95%, to $82.80 per barrel.

The decline comes amid a broader fall in global oil prices as concerns over potential supply disruptions in the Middle East eased.

Brent crude was trading below $79 a barrel on Friday.

Azeri Light typically trades at a premium to Brent due to its higher quality.